Question

TD Jakes Inc. manufactures joint products. Joint products

A. Are any two products manufactured in the same factory
B. Are produced by the same department in a company
C. Are two or more products that a company produces simultaneously from the same materials and processes
D. Should be considered as one product from start to finish
E. None of the above

Answer 1

Joint products are two or more products made from the same materials and through the same processes. This term is closely related to business efficiency, vertical mergers, and the global nature of supply chains for complex products.

Step-by-step explanation:

The term joint products refers to two or more products that a company produces simultaneously from the same materials and processes. This is related to the concept of economies of scope where multiple products are produced together more efficiently than separately. The production of joint products can lead to strategic business decisions such as vertical mergers, which streamline manufacturing processes by combining different steps of production within one company or under a single corporate umbrella. Vertical mergers can help companies safeguard against potential disruptions in supply chains. Considering today's globalized economy, where complex manufactured products usually involve parts from multiple sources and even different countries, joint products and strategic mergers play a critical role in achieving efficiency and security in supply chains.